The Bank of Canada’s hefty rate hikes are finally bearing fruit, as higher borrowing costs have caused a pullback in business investment and consumer spending, making way for lower inflation in 2024.
Austerity is killing people and the government is like “we cut down inflation, you should be thankful”
It’s a fundamentally fucked and broken system.
Austerity is government spending, not interest rates. They’re decoupled from each other.
Agreed, that we don’t have sufficient support, for lower-income and homeless Canadians, in particular. But the central bank did largely the right thing (I cry into my variable-rate mortgage). Interest rates needed to go up to chill inflation, and it’s possible the BoC may have threaded the needle on that perfectly.
Austerity is still coming when the Cons get in next election cycle
No that’s not austerity, that’s spending slashed because they need to do wholesale money transfers from public coffers to private hands. CONServative.
